HOUSTON -- Operating within the challenge and uncertainty of the current energy environment, Chevron Phillips Chemicals executive vice president Mark Lashier outlined the companys growth strategy this week at the IHS CERAWeek conference.

We have an enthusiastic long-term view for petrochemicals thanks to a one-two combination of strong global demand and competitive feedstocks from the US shale resource boom, Lashier said in a panel discussion. "By 2030, the global middle class is predicted to grow to nearly 5 billion people from under 2 billion today, according to the United Nations.

The economic growth that accompanies this rise of the middle class will fuel demand for plastic consumer products, meaning billions of people will have access to better quality-of-life products such as flexible packaging to store and transport food and beverages, enabling modern living, he added.

To begin accommodating the demand, Chevron Phillips Chemical is focused on the mid-2017 start-up of its $6-billion US Gulf Coast petrochemicals project, which includes a 1.5-MMtpy ethane cracker which will produce ethylene and two world-scale polyethylene units that will each produce 500,000 tpy of resin along the Texas Gulf Coast.

The new polyethylene (PE) units will allow Chevron Phillips Chemical to become a bigger player in merchandise bags while expanding its capability in flexible packaging and high-performance pressure pipe applications, according to company officials.

In addition to being focused on starting up its new manufacturing assets next year, the company says it is concentrating on industry-wide efforts such as building a solid pipeline of skilled talent to ensure the future success of the industry and urging investment in North American infrastructure to ensure supply chains remain competitive.

While we may need to take a deep breath as the global economy settles, we are convinced that we are on the verge of a growth curve, Lashier said. Demand for the chemicals and plastics business is strong, compelling us to continue to search the globe for the next major investment."